Warning Issued After Fake Journalists Extort Businesses in Chiang Rai

Global crude oil prices fell by more than $1 a barrel on Thursday after a period of gains, as concerns over weaker oil consumption in 2026 outweighed ongoing supply risks linked to the conflict in the Middle East. Brent crude futures declined by $1.29, or around 1.5%, to $87.69 per barrel, while US West Texas Intermediate (WTI) crude dropped $1.30, or about 1.6%, to $81.97 per barrel. Market sentiment was pressured by fresh estimates indicating that global oil demand could grow more slowly than previously expected next year. The weaker demand outlook has encouraged investors to reassess the strength of the oil market despite continued uncertainty over supplies from the Middle East. The latest decline came after the Organisation of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth in 2026 to 580,000 barrels per day in its monthly oil market report. This marks the fourth consecutive reduction in the organisation’s demand-growth projection. The ongoing conflict involving Iran and the United States and Israel has disrupted energy supplies and shipping routes, creating significant uncertainty in international oil markets. However, analysts say the economic and logistical disruptions are also weighing on fuel consumption and broader global demand. Despite the latest decline, supply concerns continue to provide some support to crude prices. Traders remain focused on developments in the Middle East, particularly the impact of the conflict on oil production, exports and major shipping routes. Analysts are therefore expecting continued volatility in global oil prices as markets balance two opposing factors: the risk of supply shortages caused by geopolitical tensions and the possibility of weaker demand resulting from disruptions to economic activity. The latest OPEC forecast is likely to remain an important factor for investors in the coming sessions, particularly as traders assess whether weaker demand can offset the supply risks currently affecting the global energy market.

LAHORE: The Board of Directors of The Bank of Punjab (BOP) has approved a proposal for an equity injection of up to Rs30 billion by the Government of Punjab, a move aimed at strengthening the bank’s capital position and supporting its next phase of expansion. The decision was taken at a board meeting held on August 7, 2026. Under the proposal, the Punjab government will subscribe to ordinary shares to be issued by the bank through a mechanism other than a rights issue. The proposed transaction will not take effect immediately and remains conditional on obtaining all required statutory, corporate, shareholder and regulatory approvals. According to the bank, the planned capital injection is an important step in its broader transformation strategy and will provide additional financial capacity to support sustainable growth across its key business segments. Share issuance price The ordinary shares will initially be issued at Rs38.20 per share. However, if the market price of BOP shares is higher than this amount at the time of issuance, the shares will be issued at the prevailing market price plus a premium of 5 percent. As a result, Rs38.20 will serve as the minimum or floor price for the proposed share issuance. The transaction is expected to reinforce the bank’s capital base and provide greater flexibility to manage balance-sheet expansion while maintaining prudent financial and risk-management standards. BOP expands its market presence The Bank of Punjab has undergone significant changes in recent years, with the institution expanding its balance sheet, improving financial performance and strengthening its position across several sectors of Pakistan’s economy. The bank has developed a strong presence in areas including small and medium-sized enterprise (SME) financing, agricultural lending, affordable housing, digital banking and credit cards. It has also increased its focus on women’s participation and leadership in banking and financial services. BOP is further expanding its activities in commercial and corporate banking, particularly in areas linked to export-oriented businesses. The bank said these business segments have positioned it as an important participant in supporting economic activity, employment creation and financial inclusion across the country. Capital requirements rise with expansion Despite the bank’s growth, the rapid expansion of its operations has increased pressure on its existing capital base. BOP said its capital position has historically remained relatively limited compared with the size of its operations and the growth opportunities available to the institution. The proposed Rs30 billion injection is therefore expected to provide the bank with additional capacity to expand its core businesses while maintaining financial resilience. The additional capital could also enable BOP to increase its low-cost deposit base and grow lending operations without facing the same level of capital constraints. The bank said strengthening its capital position would allow it to pursue growth while maintaining a balanced and prudent approach to balance-sheet management. Strong financial performance The proposed capital injection comes as BOP continues to report strong underlying financial performance. During 2025, the bank recorded revenue growth of around 29 percent, while its earnings increased by more than 40 percent year on year. The bank also witnessed significant appreciation in the value of its shares during the period. According to the bank, the proposed capital raise should therefore be viewed primarily as growth capital rather than a measure aimed at addressing immediate financial weakness. The additional equity is expected to provide the financial foundation required for BOP to continue expanding its operations and investing in new business opportunities. International expansion in focus Another important component of the bank’s future strategy is its international expansion. The capital injection is expected to support the next phase of BOP’s growth, including an international venture that has recently received approval from the State Bank of Pakistan. The move could provide the bank with an opportunity to broaden its geographical footprint and develop new sources of business and revenue. With the proposed equity injection, BOP aims to strengthen its financial position, support expansion in priority sectors and improve its ability to serve businesses, consumers and other customers as demand for banking and financial services continues to grow.

Gold prices extended their upward momentum on Tuesday, climbing for a third consecutive session as investors turned their attention to key US inflation figures that could influence expectations for the Federal Reserve’s next interest-rate decision. The precious metal continued to attract buying interest amid renewed safe-haven demand and growing expectations that US monetary policy could become less restrictive if economic data point to a cooling economy. Spot gold gained around 1% to reach $4,432.74 per ounce by 0217 GMT, its highest level since June 5. US gold futures also advanced, rising 1.7% to $4,492.60 per ounce. Market analysts said several factors were contributing to the latest rally, including investors who had stayed on the sidelines during gold’s earlier decline and are now returning to the market as prices recover. IG market analyst Tony Sycamore said the move was partly being driven by a fear of missing out among investors who had failed to take advantage of the previous decline toward the $4,000 level. He also pointed to short-covering by speculative traders and renewed demand for gold as a safe-haven asset. Sycamore added that gold could have further room to advance over the medium term, potentially opening the way for a stronger recovery toward the $5,000-per-ounce mark. US inflation data in focus Investors are now closely watching the latest US inflation figures, with the consumer price index (CPI) scheduled for release on Wednesday and producer price data due on Thursday. The reports are expected to provide important clues about the future direction of US interest rates. Markets have already reduced expectations for further monetary tightening following weaker-than-expected US employment data released last week. The latest jobs figures raised concerns about the strength of the US economy and encouraged traders to reassess expectations for the Federal Reserve’s policy path. At its July meeting, the Federal Reserve left interest rates unchanged, although three policymakers dissented and supported an increase. The split among officials highlighted uncertainty over the appropriate direction of monetary policy as the central bank continues to balance inflation risks against signs of economic weakness. Gold generally benefits from a lower-interest-rate environment because the metal does not provide interest or other regular income. When bond yields and interest rates decline, the opportunity cost of holding non-yielding bullion becomes less significant, potentially increasing its appeal among investors. Fawad Razaqzada said that if incoming economic data continue to indicate a slowing US economy without a significant acceleration in inflation, financial markets could further reduce expectations for tighter monetary policy. Such a development could weigh on the US dollar while creating a more supportive environment for gold, he said. Geopolitical tensions add to safe-haven demand Geopolitical developments also remained an important factor in precious-metals markets. US President Donald Trump responded to Iran’s conditions for a potential peace agreement with demands of his own, including calls for compensation over people killed during wars, attacks and protests. The exchange has added uncertainty to diplomatic efforts aimed at resolving the conflict and reopening the Strait of Hormuz, a strategically important waterway for global energy shipments. Any prolonged disruption or renewed tensions around the Strait could increase concerns over global energy supplies and economic stability. Such uncertainty often encourages investors to seek traditional safe-haven assets, including gold. Analysts are therefore watching both economic indicators and geopolitical developments for signs that could influence bullion prices in the coming sessions. Other precious metals also gain Gold was not the only precious metal to advance during Tuesday’s trading. Spot silver increased by 0.9% to $66.30 per ounce, maintaining its recent strength. Platinum also moved higher, gaining 0.7% to $1,765.26 per ounce. Meanwhile, palladium rose 0.8% to $1,394.00 per ounce. With US inflation figures due later in the week, traders are expected to remain cautious while assessing whether the latest economic data will reinforce expectations for a shift toward easier monetary policy. For gold, a combination of softer US economic indicators, a potentially weaker dollar, lower interest-rate expectations and continued geopolitical uncertainty could provide additional support to prices in the near term.

KARACHI: A nationwide strike by goods transporters has triggered growing concern among industrialists, who fear that a prolonged disruption in cargo movement could disrupt factory operations, delay export shipments and add further pressure to Pakistan’s already fragile economy. Business leaders have warned that the continued suspension of freight services could create serious bottlenecks in the supply chain, particularly for industries that rely on the regular movement of raw materials and intermediate goods. Any prolonged shortage of essential inputs could force factories to slow down production or temporarily shut operations. The industrial sector is also facing the risk of delays in the delivery of finished products to domestic markets and international buyers. Export-oriented industries, in particular, could suffer if consignments fail to reach ports or overseas customers within agreed timelines. President of the SITE Association of Industry (SAI) Abdul Rehman Fudda said the transporters’ strike had created a critical situation for the manufacturing sector, as industries could not maintain uninterrupted production without a reliable logistics network. He said factories depended on the timely arrival of raw materials and the smooth transportation of finished goods. Any disruption in freight movement, he added, could interrupt production schedules and increase costs for manufacturers. Fudda warned that the impact of the strike could extend beyond factories, affecting workers, suppliers, exporters, retailers and other businesses linked to the industrial supply chain. He pointed out that Pakistan’s export sector was already operating under significant pressure because of high production costs and other economic challenges. A disruption in transportation, he said, would further increase the difficulties faced by exporters. The SAI president cautioned that delays in export shipments could have financial as well as reputational consequences. International buyers may impose penalties, demand price reductions or seek compensation when shipments fail to arrive within agreed deadlines. According to him, exporters operate under strict delivery schedules, and even a temporary disruption in logistics can affect production planning, container bookings and shipment arrangements. Fudda stressed that the consequences of the strike should be assessed from a broader economic perspective rather than being viewed solely as a dispute between transporters and other stakeholders. He said an interruption in the movement of goods could affect the entire supply chain, from the procurement of raw materials to the manufacturing process and eventual delivery of products to customers. The industrialist further warned that repeated delays in fulfilling export orders could undermine the confidence of foreign buyers and make it more difficult for Pakistani businesses to retain existing international contracts or secure new orders. Industrialists have therefore urged the relevant authorities and representatives of goods transporters to resolve their differences at the earliest and restore the movement of cargo across the country. They maintained that an uninterrupted logistics system was essential for keeping factories operational, protecting jobs, meeting export commitments and supporting economic activity. Business leaders also called for a sustainable resolution to the issues behind the transporters’ strike so that similar disruptions could be avoided in the future. They said uncertainty in the movement of goods not only affects individual industries but can also have wider implications for investment, exports, government revenue and overall economic growth. With industries already facing a challenging business environment, manufacturers fear that a prolonged transport shutdown could further increase operational costs and compound supply-chain problems. They urged the authorities to prioritise negotiations and ensure the resumption of freight services without further delay.